The European Union has spent about €8.7 billion on Russian liquefied natural gas (LNG) from the Yamal project in the first ten months of 2026. This amount is 21% higher than the EU's estimated total for all of 2025. The environmental group Urgewald reported this figure after analyzing vessel-tracking data from Kpler. The EU's imports continue despite a ban on Russian LNG that will start on January 1, 2027.
Key Details
From January to October, the EU received 12.89 million tonnes of LNG from Russia. This accounted for 81% of the Yamal project's total deliveries worldwide. The EU remains the largest buyer of Russian LNG. France received the most shipments in October, totaling 5.37 million tonnes. Spain, the Netherlands, and Portugal also imported large volumes during this time.
Background
The rise in spending is due to both higher volumes and increasing prices. In October, the estimated value of LNG deliveries rose by 2.6% to €839 million, even though the volume fell by 11% from September. The European gas price benchmark has more than doubled since the start of the U.S.-Israel conflict over Iran, reaching €86.79/MWh. In October, Russia's LNG export revenues increased by 3% to $85 million per day, despite a month-on-month drop in volumes.
Related coverage: China Cuts LNG Imports as Domestic Supply Increases Pressure.
The ongoing high spending on Russian LNG may influence European gas prices and energy market dynamics as the ban approaches. Investors will watch how these changes affect energy supply and pricing in the region. Stay tuned for updates on the EU's energy policy decisions as the January ban date nears.
Based on reporting by: oilprice.com, euronews.com